What Is Distributed Regtech Collaboration?
Distributed Regtech Collaboration Platform (DRC) is a distributed professional service platform that seeks to utilize FinTech in establishing a network that is autonomous, transparent, and professional with mutual trust among investors, regulators, and technical start-ups. Through the information it acquires for its members, the platform seeks to create a blockchain ecosystem that is self-regulated, self-disciplined, and open.
DRC's basis is the Ethereum blockchain technology that validates and stores the platform’s data and ensures that information is unalterable and not traceable. It also integrates the distributed node algorithm that generates and updates the data or information relating to investors, startups, and regulators.
Other advanced technology that the platform integrates include smart contracts for programming and operating data, big data for analyzing and obtaining public information and cryptography for the secure access and transmission of data.
Distributed Regtech Collaboration Services
The platform applies the concept of Proactive, Procedural, and Functional Monitoring throughout its lifecycle, which results in the promotion of a steady and regular development of the blockchain sector. Some of the services offered by the platform include due diligence, information disclosure, risk assessment, valuation, and pricing of digital asset, and dynamic monitoring.
Through the platform, professional service providers can offer shared professional services to experts and community members within DRC’s blockchain based financial ecosystem. Users who require professional services can request for the services through launching a Crowd Request.
Professionals, competent community members, and service agencies can respond to that particular request through Crowd Sourcing. This will create a global multi-party social system that is not limited by organizational or national boundaries where members have different roles and different social contributions.
The DRC ecosystem is built on the Supporting Governance Mechanism that contains an incentive mechanism, voting system, expert evaluation and credit rating mechanism and a dispute arbitration mechanism. The main role of the governance mechanism is the creation of a self-governing and self-disciplining atmosphere, which will enable the DRC ecosystem to operate properly.
Distributed Regtech Collaboration DRCT Token
Transacting and interacting on the platform will be through the ERC-20 compliant DRC token (DRCT). The token will be the main medium of exchange on the platform and will allow the Token holders to access the platform and its full functionality using DRCT. Users of the platforms will receive DRC tokens as rewards for participating on the platform through their different roles or social contributions. The DRCT tokens are convertible to DRCC that are used it paying for requests or purchasing of services on the platform.
Distributed Regtech Collaboration Benefits
DRC’s team comprises of experts and professional who are experienced in blockchain, big data, and algorithms, which guarantees that the services offered on the platform are top notch.
DRC is one of the world’s first blockchain application and service provider that utilizes technology such as big data, Natural Language Processing to perform Due Diligence, Project Rating, Risk Monitoring, Information Disclosure, and Automatic Auditing.
DRC provides a service model that will completely change how the traditional centralized professional agencies work as it will offer an opportunity to firms to utilize professional and convenient risk management services.